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KeyCorp 8-K Report, Corporate Update (Mar 13, 2025)

Reports
Other Events
Filing Date
Filed March 13, 2025
Period End
March 13, 2025
In the record · 2016–202610-K1110-Q348-K141

KEY filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 141 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Aug ’16Aug ’16
  2. Leadership change8-K · Dec ’21Dec ’21
  3. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed March 13, 2025. Cited figures are marked; the original filing is the authoritative source.

KeyCorp (NYSE: KEY), headquartered in Cleveland, Ohio, reported in this Form 8-K filed March 13, 2025 that its Board of Directors has authorized a share repurchase program allowing the company to buy up to $1.0 billiona of KeyCorp common shares.

Under the accompanying press release (Exhibit 99.1), repurchases may be made in the open market or in privately negotiated transactions. The company stated it intends to begin repurchasing shares in the second half of 2025. The timing and price of repurchases, and the actual number of shares bought, will be at KeyCorp's discretion and depend on factors including general market conditions, the stock price, regulatory requirements and limitations, corporate liquidity requirements and priorities, and other factors.

The release also notes that KeyCorp had assets of approximately $187 billionb at December 31, 2024, and that it operates in 15 states through approximately 1,000 branches and approximately 1,200 ATMs, with KeyBanc Capital Markets providing corporate and investment banking services to middle market companies. The filing is an 8.01 Other Events disclosure and includes standard forward-looking statement cautions referencing KeyCorp's 2024 Form 10-K.

02—Key points

Key Highlights

  1. Board authorized a share repurchase program of up to $1.0 billion of KeyCorp common shares.
  2. Repurchases may be made in the open market or in privately negotiated transactions.
  3. KeyCorp intends to begin repurchasing shares in the second half of 2025.
  4. Timing, price, and volume of repurchases are at management's discretion and depend on market conditions, stock price, regulatory requirements, and liquidity priorities.
  5. KeyCorp reported approximately $187 billion in assets at December 31, 2024.
  6. Operates through approximately 1,000 branches and approximately 1,200 ATMs across 15 states under KeyBank National Association.
  7. KeyBanc Capital Markets provides corporate and investment banking services to middle market companies.

03—Questions

Frequently Asked Questions

  1. How large is the new share repurchase authorization?

    The Board of Directors authorized a program allowing KeyCorp to purchase up to $1.0 billion of its common shares.

  2. When will KeyCorp start buying back shares?

    The company intends to begin repurchasing shares in the second half of 2025.

  3. How will the shares be purchased?

    Repurchases may be made in the open market or in privately negotiated transactions.

  4. What factors will determine the timing and amount of repurchases?

    The timing, price, and actual number of shares repurchased are at KeyCorp's discretion and will depend on general market conditions, the stock price, regulatory requirements and limitations, corporate liquidity requirements and priorities, and other factors.

  5. What is the size of KeyCorp's balance sheet?

    As stated in the press release, KeyCorp had assets of approximately $187 billion at December 31, 2024.

04—Continue

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